WHITE PLAINS – Saying the cost of commuting to work by train is becoming increasingly more expensive, US Senator Charles Schumer said a new mass transit tax benefit will assist area commuters in paying their fares.
The senator said qualified mass transit commuters are now eligible to receive up to $250 per month for 2015 and $255 per month for 2016 in tax deductions, with a cost-of-living adjustment after 2015.
That benefit should ease the financial pressure on commuters, Schumer said on Monday.
“It is a big middle class burden and particularly in our suburbs – the Hudson Valley, Long Island – the cost of a Metro-North or Long Island Rail Road ticket is very, very high, so this really helps commuters with the deduction of over $1,000 in commuters’ pockets for many families,” he said.
The new legislation provides permanent parity between the parking and mass-transit commuter benefit, nearly doubling the value of the mass transit benefit.
